Jobless claims show biggest jump in 2 years

28 July, 2011


There was further bad news for the UK economy today as the number of unemployment claimants in the UK jumped to the highest total since March 2010, with the single biggest monthly increase in 2 years.

However the unemployment rate itself remained steady at 7.7%.

While the news initially hurt sterling, reducing exchange rates for sending money overseas, the Pound later recovered as the worries about a second Greek bailout raged in the Eurozone, and the US Dollar also weakened off significantly in afternoon trading.

Tomorrow we have Eurozone inflation at 10am and US retail sales and jobless claims at 1.30pm. Contact Currency Index for the latest news and live rates.